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PSU Bank shares witnessed selling pressure for second consecutive trading session.
At 10:25 IST, the barometer index, the S&P BSE Sensex, declined 258.84 points or 0.30% to 84,879.43. The Nifty 50 index fell 100.75 points or 0.39% to 25,931.45.
In the broader market, the S&P BSE Mid-Cap index shed 0.91% and the S&P BSE Small-Cap index fell 0.59%.
The market breadth was weak. On the BSE, 1,260 shares rose and 2,306 shares fell. A total of 210 shares were unchanged.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 90.1100 compared with its close of 89.9650 during the previous trading session. The currency slipped to a fresh record low after breaching the 90-mark.
Buzzing Index:
The Nifty PSU Bank index fell 0.85% to 8,373.40. The index decilined 1.90% for two consecutive trading sessions.
Indian Bank (down 3.55%), Punjab National Bank (down 2.5%), Bank of India (down 1.72%), Bank of Baroda (down 1.55%), Bank of Maharashtra (down 1.44%) , Punjab & Sind Bank (down 1.42%), Canara Bank (down 1.41%), UCO Bank (down 1.41%), Central Bank of India (down 1.23%) and Indian Overseas Bank (down 0.91%) declined.
Stocks in Spotlight;
Angel One declined 5.74% after the company reported that its gross client acquisition declined 16.6% year-on-year (YoY) to 0.50 million in November 2025 from 0.60 million in November 2024.
Mahindra Lifespace Developers shed 0.55%. The company said that it has been selected as the preferred development partner for a major residential redevelopment project in Matunga, Mumbai.
Quality Power Electrical Equipment fell 0.41%. The company announced that it has secured an order worth Rs 13.90 crore for the supply of coil products.
Angel One announced its key business parameters for month of November 2025:
Client Base (Million)
35.08
1.5%
21.9%
Avg. Client Funding Book (Rs crore)
5950
2.7%
50.1%
Average Daily Turnover (Rs crore)
Overall
53,48,600
-9.8%
25.4%
F&O
51,75,200
-10.1%
23.7%
Cash
7,300
-7.5%
-2.2%
Commodity
1,66,100
-0.6%
129.3%
The company reported an Average Daily Turnover (ADTO), based on notional turnover, of Rs 53,48,600 crore in November 2025, reflecting a 9.8% MoM decline but a strong 25.4% YoY rise. The Futures & Options (F&O) segment contributed Rs 51,75,200 crore, down 10.1% MoM yet up 23.7% YoY.
Based on option-premium turnover, the ADTO in the cash segment stood at Rs 7,300 crore, declining 7.5% MoM and 2.2% YoY. The commodity segment reported a significantly higher ADTO of Rs 166,100 crore, slipping 0.6% MoM but soaring 129.3% YoY.
Angel One’s client base jumped 21.9% year-on-year (YoY) to 35.08 million in November 2025, compared with 28.78 million in November 2024. The company’s client base also rose 1.5% month-on-month (MoM) in November 2025 from 34.57 million recorded in October 2025.
Angel One is the largest listed retail stockbroking house in India in terms of active clients on NSE. The company provides brokerage and advisory services, margin funding, loans against shares, and distribution of third-party financial products to its clients. The brokerage and allied services are offered through online and digital platforms and a network of authorized persons.
The company’s consolidated net profit dropped 49.98% to Rs 211.73 crore on a 20.56% fall in total revenue from operations to Rs 1,204.20 crore in Q2 FY26 over Q2 FY25.
PSU bank, consumer durables and auto shares tumbled while IT, private bank and media shares advanced.
As per provisional closing data, the barometer index, the S&P BSE Sensex declined 31.46 points or 0.04% to 85,106.81. The Nifty 50 index fell 46.20 points or 0.18% to 25,986 In the past four trading sessions, the Nifty and Sensex declined 0.88% and 0.72%, respectively..
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 0.95% and the S&P BSE Small-Cap index fell 0.43%.
The market breadth was weak. On the BSE, 1,486 shares rose and 2,673 shares fell. A total of 162 shares were unchanged.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 90.1975 compared with its close of 89.9650 during the previous trading session. The currency slipped to a fresh record low after breaching the 90-mark.
Economy:
The seasonally adjusted HSBC India Services PMI Business Activity Index rose from 58.9 in October to 59.8 in November, indicating a historically strong expansion in output and a faster pace of growth than the previous month.
Meanwhile, the HSBC India Composite PMI Output Index stood at 59.7 in November, pointing to robust growth. However, the decline from October’s 60.4 reading signalled the slowest expansion since May
The Nifty PSU Bank index declined 3.07% to 8,253.20, extending its losses to 3.31% over the past two trading sessions. The weakness triggered after the government ruled out any proposal to raise the foreign direct investment limit in public sector banks.
The Finance Ministry said no such proposal is under consideration. It reiterated that the existing framework under the Banking Companies Acquisition and Transfer of Undertakings Act of 1970 and 1980 and the Foreign Exchange Management Non-Debt Instruments Rules of 2019 sets the FDI limit at 20% for public sector banks and 74% for private lenders. Of this, FDI up to 49% in private banks is permitted through the automatic route, while investments between 49% and 74% require government approval.
Indian Bank (down 5.43%), Punjab National Bank (down 4.48%), Canara Bank (down 3.91%), Bank of India (down 3.68%), Punjab & Sind Bank (down 3.58%), Bank of Baroda (down 3.33%), Union Bank of India (down 2.82%), Central Bank of India (down 2.28%), UCO Bank (down 2.12%) and State Bank of India (down 1.71%) declined.
IPO Update:
Meesho received bids for 42,91,30,575 shares as against 27,79,38,446 shares on offer, according to stock exchange data at 15:27 IST on Wednesday (3 December 2025). The issue was subscribed 1.54 times. The issue opened for bidding on 3 December 2025 and it will close on 5 December 2025. The price band of the IPO is fixed between Rs 105 and 111 per share.
Aequs received bids for 11,50,77,240 shares as against 4,20,26,913 shares on offer, according to stock exchange data at 15:27 IST on Wednesday (3 December 2025). The issue was subscribed 2.74 times. The issue opened for bidding on 3 December 2025 and it will close on 5 December 2025. The price band of the IPO is fixed between Rs 118 and 124 per share.
Vidya Wires received bids for 10,43,87,328 shares as against 4,33,34,009 shares on offer, according to stock exchange data at 15:27 IST on Wednesday (3 December 2025). The issue was subscribed 2.41 times. The issue opened for bidding on 3 December 2025 and it will close on 5 December 2025. The price band of the IPO is fixed between Rs 48 and 52 per share.
Stocks in Spotlight:
Blue Cloud Softech Solutions (BCSSL) added 2.71% after the company said that it has received a major data annotation and AI training services order from USA-based Stratos Forge Inc. Based on this performance, Stratos Forge Inc has now awarded BCSSL the full scale project rollout with a commercial value of Rs 110.08 crore.
Angel One slipped 5.42% after the company reported that its gross client acquisition declined 16.6% year-on-year (YoY) to 0.50 million in November 2025 from 0.60 million in November 2024.
Indian Railway Finance Corporation (IRFC) declined 1.37%. The company announced that it has signed a loan agreement with Sumitomo Mitsui Banking Corporation (SMBC) to raise an External Commercial Borrowing (ECB) loan valued at the Japanese Yen (JPY) equivalent of $300 million.
Mahindra Lifespace Developers shed 0.51%. The company said that it has been selected as the preferred development partner for a major residential redevelopment project in Matunga, Mumbai. The project spans approximately 1.53 acres, with a gross development value of around Rs 1,010 crore.
Quality Power Electrical Equipment added 1.58% after the company announced that it has secured an order worth Rs 13.90 crore for the supply of coil products.
Gujarat Pipavav Port advanced 1.40% after the firm signed a non-binding memorandum of understanding (MoU) with NYK India to upgrade RoRo infrastructure at Pipavav Port.
MOIL rose 0.39%. The company said that it has recorded 1.65 lakh metric tonnes (LMT) of manganese ore production in November 2025, showing a 1% year-on-year (YoY) increase.
Global Market:
The Dow Jones index futures were up 102 points, indicating a positive opening in the US stocks today.
Most European markets advanced on Wednesday as investors awaited the Federal Reserve’s decision, which is scheduled on 10 December 2025.
Asia-Pacific markets ended mixed on Wednesday, after Wall Street saw a tech-fueled recovery and a cryptocurrency rally.
South Korea’s revised third-quarter GDP numbers indicated that country’s economy grew at 1.8% year on year, compared to 1.7% in the initial estimate, data from the central bank showed Wednesday.
Australia’s GDP expanded 2.1% year on year, marking its strongest expansion since the third quarter of 2023, but fell short of the widely reported 2.2% expected growth rate.
Overnight in the U.S., the Dow Jones Industrial Average gained 0.39%, while the S&P 500 climbed 0.25% and the Nasdaq Composite advanced 0.59%.
Angel One announced the following key business parameters for month of October 2025:
Particulars
Oct'25
MoM Growth
YoY Growth
34.57
22.5%
5791
4.3%
40.6%
Overall*
59,29,400
23.1%
22.4%
F&O*
57,54,400
23.2%
20.4%
7,900
3.9%
1.4%
1,67,100
19.8%
200.8%
* Overall ADTO is based on turnover for cash segment, notional turnover for equity futures & equity options and commodity segments. F&O ADTO is based on notional turnover for equity futures & equity options segments.
Gross client acquisition dropped 19.8% YoY to 0.56 million in October 2025 as against 0.70 million in October 2024.
Angel One reported an Average Daily Turnover (ADTO), based on Notional Turnover, of Rs 59,29,400 crore in October 2025, reflecting a 23.1% MoM growth and a 22.4% YoY increase. The ADTO from the Futures & Options (F&O) segment stood at Rs 57,54,400 crore for the month, marking a 23.2% MoM rise and a 20.4% YoY increase.
Based on option premium turnover, the ADTO in the cash segment increased to Rs 7,900 crore in October 2025, up 3.9% MoM and 1.4% YoY. The commodity segment reported a significantly higher ADTO of Rs 1,67,100 crore, marking an increase of 19.8% MoM and a massive 200.8% YoY surge.
The counter shed 0.25% to Rs 2,514.50 on the BSE.